Uncle Sam looks into a microscope and sees tiny CEOs and money. Uncle Sam: I seem to have created a shame-resistant strain of CEO.
Oh, that happened a long time ago. Twain wrote about it over 100 years ago.
The republicans have perfected it,just look at their shame resistant candidate.
Americans appear not to be capable of learning that the “free hand of the market” can not, does not, and will not trump human nature. Adam Smith’s vision of pure, laissez-faire capitalism leading to the optimal economic outcome for all participants is unrealistic precisely BECAUSE of human nature. CEO’s do not – are not supposed to – act for the benefit of society at large. They are responsible for acting in the best interest of the company and its owners, and that is what they will do. They tend also to be owners of the company, so that means acting in their OWN interest, which in turn means greed is given motive and opportunity. End of altruism, and end of story.
It is what we have become. Stupid greedy people produce stupid greedy politicians.
Epipens? Chump change. Try an OLD drug, that you are very very familiar with, that I’m being charged 500$ for 30 grams of the stuff.Give your dog Heartgard? Yep, that’s the stuff. Turns out if you take Cleopatra’s formula for cold cream and replace 1% of the oil with ivermectin you get a cream that’s effective against rosacea because ivermectin is actually an insecticide that kills the mites in your pores.So no development cost, no animal testing needed as the effects on animals have been well known since the 70’s, they made a cold cream and held a clinical trial. Cosmetic companies do that all the time, and lipstick isn’t 20 bucks a gram.And Soolantra is now driving Nestles’ bottom line according to the CEO.BTW, in Australia it’s about 26$ for the same tube. Ok, all chime in now, “EVIL AUSSIE SOCIAMACOMMIENISTS”.
In the FWIW Dept., the WSJ reports that “No Fortune 100 CEOs Back Republican Donald Trump.” One might suppose that the CEOs like things just as they are. However, it’s likely they also know that things could quickly get very much worse for everyone, even for them. If Benedict Donald is elected, you can bet that the NYSE will head for the hills.
You’re just discovering this now, Uncle Sam? That strain has been prevalent among CEOs and politicians for a loooooong time.
it is called corporatism. It is where government has too much power and corporations pay officials for favorable laws and regulations..Corporatism isn’t capitalism. In fact it is closer to socialism in that it needs a strong central government to deliver the protections it needs and a ruling class of political elites to make sure it happens..It doesn’t matter what name the politician uses to describe themselves, conservative or liberal, Republican or Democrat, the political elite are the problem..Clinton is the poster child for the political elite.
I recommend that everyone read The Corporation: The Pathological Pursuit of Profit and Power. Not only is the corporation not allowed to work for the good of society, it can be sued by shareholders if it does. So we either need a paradigm shift in the laws or we have to live with things as they are. Or have I read this wrong?
Ya got it backwards! People become CEO’s BECAUSE they are shame resistant.
Sometimes the apple DOES fall far from the tree.But with the coal-centric corporatism of West-By-God-Mountain-Top-Mining-Virginia, what do you expect?John and Robert Kennedy certainly changed from their Father’s ideals. So did the “Made in America” Waltons once Mr. Sam passed on. It’s interesting that now, after decades of off-shoring jobs, Wal-Mart is saying they will bring back jobs, WHICH NEVER SHOULD HAVE BEEN LOST!Best chapter of the best book ever written about this: The Man Who Said No to Wal-Mart, from The Wal-Mart Effect.
Liverlips McCrackenCEOs rarely own a significant percentage of their company; they know what’s going on there and when their program wrecks the company, they want to minimize their loss, take their multi-million dollar parachute, and move on to some other company’s boardroom to destroy it. Their absurd power comes not from ordinary investors, but sizeable proxies of institutions such as banks, insurance companies, universities, etc. which in turn are run by equally rich and selfish men who often serve, at high salaries and little work, on each other’s boards of directors. .This was the center of Walter Reuther’s battle for profit sharing. The rank-and-file UAW members owned far more of General Motors than Harlow Curtiss (“what’s good for General Motors is good for the country and vice versa”) and his fellow directors. Therefore they should be getting a of proportionate amount of the profits.
April 12, 2017